Correlation Between FingerMotion and ECARX Holdings
Can any of the company-specific risk be diversified away by investing in both FingerMotion and ECARX Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining FingerMotion and ECARX Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FingerMotion and ECARX Holdings Class, you can compare the effects of market volatilities on FingerMotion and ECARX Holdings and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in FingerMotion with a short position of ECARX Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of FingerMotion and ECARX Holdings.
Diversification Opportunities for FingerMotion and ECARX Holdings
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between FingerMotion and ECARX is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding FingerMotion and ECARX Holdings Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ECARX Holdings Class and FingerMotion is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on FingerMotion are associated (or correlated) with ECARX Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ECARX Holdings Class has no effect on the direction of FingerMotion i.e., FingerMotion and ECARX Holdings go up and down completely randomly.
Pair Corralation between FingerMotion and ECARX Holdings
Given the investment horizon of 90 days FingerMotion is expected to under-perform the ECARX Holdings. But the stock apears to be less risky and, when comparing its historical volatility, FingerMotion is 1.09 times less risky than ECARX Holdings. The stock trades about -0.09 of its potential returns per unit of risk. The ECARX Holdings Class is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest 216.00 in ECARX Holdings Class on June 3, 2025 and sell it today you would lose (54.00) from holding ECARX Holdings Class or give up 25.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FingerMotion vs. ECARX Holdings Class
Performance |
| Timeline |
| FingerMotion |
| ECARX Holdings Class |
FingerMotion and ECARX Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FingerMotion and ECARX Holdings
The main advantage of trading using opposite FingerMotion and ECARX Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FingerMotion position performs unexpectedly, ECARX Holdings can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ECARX Holdings will offset losses from the drop in ECARX Holdings' long position.| FingerMotion vs. KORE Group Holdings | FingerMotion vs. Liberty Broadband Srs | FingerMotion vs. Liberty Broadband Srs | FingerMotion vs. Global Tech Industries |
| ECARX Holdings vs. Bridger Aerospace Group | ECARX Holdings vs. Cardio Diagnostics Holdings | ECARX Holdings vs. Dana Inc | ECARX Holdings vs. ECARX Holdings Warrants |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stocks Directory module to find actively traded stocks across global markets.
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